OMERS ADMINISTRATION Corp Has $1.58 Million Position in Pinterest, Inc. (NYSE:PINS)

OMERS ADMINISTRATION Corp reduced its stake in Pinterest, Inc. (NYSE:PINS) by 21.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,515 shares of the company’s stock after selling 14,734 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Pinterest were worth $1,581,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in shares of Pinterest in the fourth quarter valued at $28,000. Strategic Investment Solutions Inc. IL increased its holdings in shares of Pinterest by 401.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after purchasing an additional 1,204 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Pinterest by 51.5% in the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after purchasing an additional 590 shares during the last quarter. Huntington National Bank increased its holdings in shares of Pinterest by 484.1% in the fourth quarter. Huntington National Bank now owns 2,027 shares of the company’s stock valued at $59,000 after purchasing an additional 1,680 shares during the last quarter. Finally, CoreCap Advisors LLC increased its holdings in shares of Pinterest by 98.5% in the fourth quarter. CoreCap Advisors LLC now owns 2,096 shares of the company’s stock valued at $61,000 after purchasing an additional 1,040 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pinterest

In other news, Director Benjamin Silbermann sold 408,332 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the completion of the transaction, the director now owns 6,274 shares of the company’s stock, valued at $208,045.84. This represents a 98.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total value of $45,068.50. Following the completion of the transaction, the director now directly owns 29,086 shares of the company’s stock, valued at $1,139,880.34. This represents a 3.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 862,168 shares of company stock valued at $28,368,681. 7.06% of the stock is currently owned by insiders.

Pinterest Trading Down 1.9%

PINS stock opened at $32.28 on Friday. The stock has a market capitalization of $21.89 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. Pinterest, Inc. has a 12 month low of $23.68 and a 12 month high of $45.19. The firm has a 50-day moving average price of $28.72 and a 200-day moving average price of $31.23.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company posted $0.17 EPS. As a group, equities analysts predict that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PINS shares. Piper Sandler reduced their target price on shares of Pinterest from $41.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Barclays reduced their target price on shares of Pinterest from $42.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, May 9th. Royal Bank of Canada boosted their target price on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Stifel Nicolaus reduced their target price on shares of Pinterest from $50.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Pinterest from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.26.

About Pinterest

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.